ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 12.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 898,122 shares of the financial services provider’s stock after selling 131,643 shares during the quarter. JPMorgan Chase & Co.’s holdings in ConnectOne Bancorp were worth $22,498,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its position in ConnectOne Bancorp by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 218,936 shares of the financial services provider’s stock valued at $4,136,000 after purchasing an additional 5,186 shares in the last quarter. Principal Financial Group Inc. raised its holdings in ConnectOne Bancorp by 8.2% in the second quarter. Principal Financial Group Inc. now owns 21,130 shares of the financial services provider’s stock valued at $399,000 after acquiring an additional 1,606 shares in the last quarter. Victory Capital Management Inc. lifted its stake in ConnectOne Bancorp by 14.8% in the second quarter. Victory Capital Management Inc. now owns 56,000 shares of the financial services provider’s stock worth $1,058,000 after acquiring an additional 7,200 shares during the last quarter. American Century Companies Inc. grew its holdings in ConnectOne Bancorp by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 633,599 shares of the financial services provider’s stock worth $11,969,000 after acquiring an additional 85,437 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. increased its position in shares of ConnectOne Bancorp by 111.1% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 55,406 shares of the financial services provider’s stock valued at $1,047,000 after purchasing an additional 29,161 shares during the last quarter. Hedge funds and other institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Stock Up 0.4 %

Shares of ConnectOne Bancorp stock opened at $22.49 on Thursday. ConnectOne Bancorp, Inc. has a one year low of $17.07 and a one year high of $29.31. The company has a market cap of $862.94 million, a P/E ratio of 12.93 and a beta of 1.30. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a fifty day moving average of $25.68 and a two-hundred day moving average of $24.07.

ConnectOne Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were given a $0.18 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.72 dividend on an annualized basis and a yield of 3.20%. ConnectOne Bancorp’s payout ratio is currently 41.38%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CNOB. Keefe, Bruyette & Woods lifted their price objective on shares of ConnectOne Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Monday, November 18th.

ConnectOne Bancorp Company Profile

ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank that provides commercial banking products and services for small and mid-sized businesses, local professionals, and individuals in the New York Metropolitan area and South Florida market. The company offers personal and business checking, money market, and time and savings accounts; credit cards, wire transfers, safe deposit boxes, automated teller services and telephone, and internet and mobile banking.